Top Car, Truck, & SUV Rebates In October 2020

By

Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - October 5, 2020

We analyzed hundreds of deals to uncover cars, trucks, and SUVs with the highest rebates in October. We've found up to $17,000 in incentives as well as loyalty discounts and hidden savings manufacturers tell dealers not to advertise. In some cases, these are the best deals we've seen to date.

Our analysis is based on a combination of advertised offers and unadvertised deals you won't hear about anywhere else. Offers can sometimes vary by region but promotions listed here are available nationally unless noted otherwise.

Updated October 5

SUVs With The Highest Rebates

What's Hot: The Renegade offers the single largest discount on any subcompact SUV. In the case of the Latitude trim, shoppers here in California can save as much as 24.1% off MSRP. That's an impressive amount and could result in some extremely low prices at dealers.

What's Not: Discounts vary by trim and offers in other parts of the country may be slightly different. The offer in question also factors-in a $750 financing bonus that you can only get when taking out a loan through Chrysler Capital.

Check Renegade Prices Near You »

What's Hot: The EcoSport features one of the largest discounts on any subcompact SUV. Discounts vary by trim, with up to a $5,750 rebate on SES and Titanium styles of the brand's most affordable

What's Not: More affordable styles don't offer quite as much of a discount. For example, SE trims get $5,000 while the entry-level EcoSport S gets just $4,250. Offers can vary by region; figures here are for California.

Check EcoSport Prices Near You »

What's Hot: Big discounts can make the Sorento midsize SUV almost as cheap as a compact crossover. V6 styles qualify for a $5,500 rebate, one of the largest single discounts from a mainstream SUV brand. Unlike past offers, the incentive isn't limited to specially-tagged inventory.

What's Not: Discounts for the more affordable 4-cylinder model are limited to $4,500. Although Kia is offering 0% APR for 75 months, the deal can't be combined with this month's rebate. We recommend considering both options to find the best choice for you.

Check Sorento Prices Near You »

What's Hot: Hybrid versions of the XC90 are eligible for a whopping $8,000 purchase bonus right now. If you're a current Volvo owner, you may be eligible for a $2,000 loyalty bonus for $10,000 in savings. That's the largest discount we've seen all year and an outstanding value for a luxury plug-in hybrid.

What's Not: Volvo incentives vary by region and the figures above are for Southern California. Note that regional plug-in rebates like the California Clean Vehicle Rebate (CVRP) have a cap on MSRP that makes the XC90 ineligible for an additional $1,000 discount.

Check XC90 Prices Near You »

What's Hot: You won't see it advertised, but Acura is offering a $5,500 dealer cash incentive on the MDX when taking out a loan through Acura Financial. Even better, you can get a $1,500 discount for being an Acura owner or that of a competitor. That's $7,000 in potential savings.

What's Not: Although Acura is offering 0.9% APR for 72 months, it can't be combined with the $5,500 incentive.

Check MDX Prices Near You »

What's Hot: All versions of the Escalade continue to be eligible for a $9,500 rebate. This is still the largest single Escalade discount we've seen to date.

What's Not: Current Escalade drivers may want to check their mail. Unadvertised dealer incentive bulletins show the brand has recently been sending out loyalty discounts resulting in discounts worth up to $19,000 ahead of the vehicle's 2021 redesign.

Check Escalade Prices Near You »

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Cars With The Highest Rebates

    What's Hot: The Challenger features up to $8,070 off MSRP when you opt for the blazing-fast SRT Super Stock. Interestingly, the deal is oriented around a promise of "$10 per horsepower." You won't see a deal that good on a Mustang GT or Camaro SS anytime soon.

    What's Not: Depending on your priorities, you may find financing to be a better deal. For example, SRT Hellcats remain eligible for 0% APR for 72 months, a rare deal for a car that's typically excluded from APR incentives.

    Check Challenger Prices Near You »

    What's Hot: Dealers are being given up to $11,000 in dealer cash to help discount the RLX. This marks the biggest discount we've seen to date. Even better, you can boost that to as much as $12,000 if you qualify for a $1,000 loyalty discount.

    What's Not: The RLX is due to be discontinued after the current model year and will effectively be replaced by the all-new 2021 Acura TLX.

    Check RLX Prices Near You »

    What's Hot: One of Jaguar's most expensive sedans is eligible for one of the deepest discounts. According to a manufacturer incentive bulletin, the Jaguar XF S qualifies for a $17,000 allowance credit. This is a dealer cash incentive you won't see advertised on the brand's website.

    What's Not: Since this isn't treated like a typical rebate, you may have to shop around with multiple dealers to find one willing to pass on the full amount. It's also worth noting that other styles, such as the 4-cylinder XF, offer a slightly lower discount of "just" $15,000.

    Check XF Prices Near You »

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    Trucks With The Highest Rebates

    What's Hot: The RAM 1500 offers as much as $10,000 in savings if you're eligible for every available offer this month. Odds are that'll be a lot better than what you'll find on a Ford F-150 or Chevy Silverado.

    What's Not: Like most attention-grabbing truck discounts, you'll have to jump through a ton of hoops to get to the largest amount. First, Big Horn and Lone Star Editions are the only styles eligible. Offers also vary by region, and the example here is for California.

    Apart from a $2,000 rebate, the truck comes with up to $3,500 in bonus cash. Upgrading to the V8 gets you an extra $1,000 while coming from a competing brand offers a $1,000 advantage. Finally, RAM is offering a $2,000 bonus on specially-tagged stock, plus an extra $500 when financing through Chrysler Capital.

    Check 1500 Prices Near You »

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    , Senior Pricing Analyst

    As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

    Follow On: Twitter

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